Integrated Device Technology, Inc. (IDTI) Technical Signs to Spot a Rally

Looking into the technicals, Integrated Device Technology, Inc. (NASDAQ:IDTI) has scored 32% Sell indication. The stock is also flashing a Sell from the Barchart TrendSpotter trading system. Traders hoping to speculate on the IDTI’s short-term trajectory should know that short terms indicators for the stock averaged 80% Sell with an average daily trading volume over the past 20 days at 1580685 shares. IDTI stock has overall a 0.25% Sell signal considering medium term indicators and the 50-day average daily volume remained almost 2179528 shares. It’s also worth noting that the stock, whose average daily volume over the 100 days prior to this writing was 2249276 shares, is 67% Buy on the basis of long term indicators.

The share price is currently staying around the first support level of $48.22. Below this, the next support is placed in the zone of $48.16. Till the time, the IDTI stock trades above this level, bulls have nothing to fear. On momentum oscillators front, ‘RSI’ has touched 43.58 on daily chart, which may remain a cause for concern. If the price breaks below $48.16 level on closing basis, then we may see more profit booking and the stock may show further weakness. On the flipside, hitting the $48.36 mark may result into a pull-back move towards $48.44 level.

Integrated Device Technology, Inc. (IDTI) is projected to climb by -5.95 percent over the next 12 months, according to price target estimates compiled by finviz. Meanwhile, they have set a $49-month high price target. This represents a whopping 1.51 percent increase from where shares are trading today. The 12-month median price target assigned by the analysts stands at $49, which represents a return potential of 1.51 percent when compared to the closing price of the stock of $48.27 on Thursday, March 14. The lowest price target for the stock is $44 — slightly more than -8.85 percent from IDTI’s current share price.

Here’s a rundown of insider trading activity for sense of Integrated Device Technology, Inc. (NASDAQ:IDTI).

IDTI shares dropped -0.08 points or -0.17 percent on Thursday to $48.27 with a heavy trade volume of 2.583 million shares. After opening the session at $48.35, the shares went as high as $48.39 and as low as $48.25, the range within which the stock’s price traded throughout the day. The firm is left with a market cap of $6.23 billion and now has 129.15 million shares outstanding. Integrated Device Technology, Inc. (IDTI) stock has lost -0.39 percent of market value in 21 trading days.

Analysts at Charter Equity cut their rating on shares of Integrated Device Technology, Inc. (NASDAQ:IDTI) from Buy to Mkt Perform in their opinion released on January 29. Craig Hallum analysts have downgraded their rating of IDTI stock from Buy to Hold in a separate flash note to investors on October 17. Analysts at Cowen downgraded the stock to a Market Perform call from its previous Outperform stance, in a research note that dated back to September 11.

IDTI stock has a trailing 3-year beta of 1.22, offering the possibility of a higher rate of return, but also posing more risk. The portion of a company’s profit allocated to each outstanding share of common stock was $0.9 a share in the trailing twelve months. The stock’s value has fallen -0.33 percent year to date (YTD) against a rise of 50.51 percent in 12 month’s time. The company’s shares still trade -1.35 percent away from its 1-year high of $48.93 and 74.2 percent up from 52-week low of $27.71. The average consensus rating on the company is 3, on a scale where 5 equates to a unanimous sell rating. In short, the mean analyst recommendations are calling this stock a hold.

Shares of Integrated Device Technology, Inc. (IDTI) are trading at a P/E ratio of 35.23 times earnings reported for the past 12 months. The industry IDTI operates in has an average P/E of 247.18. Its P/E ratio went as low as 15.69X and as high as 396.92 over the 5-year span. Further, it is sporting a 6.71 on the Price-to-Sales ratio. Compare this with the industry average P/S of 10.83. 59.9 percent is the gross profit margin for Integrated Device Technology, Inc. and operating margin sits at 14.7 percent. Along with this, the net profit margin is 11.7 percent.

IDTI will be declaring its Q4 financial results on May 06. Analysts are forecasting revenue to climb 6.9 percent to $240M in the next fiscal quarter, while earnings are seen soaring by nearly 2.17 percent to $0.47 per share. History has shown that shares in Integrated Device Technology, Inc. have gone up on 21 different earnings reaction days and are predicted to add 0.06 percent when the company reports upcoming earnings. In last reported earnings results, it earned $0.5 per share, better than the $0.46, adjusted, expected by Thomson Reuters consensus estimate. Revenue was $241M, better than the $238M analysts expected. Earnings are estimated to increase by -3.1 percent this year, 12.48 percent next year and continue to increase by 14.4 percent annually for the next 5 years.